Time for City Link to deliver

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A touch of Groundhog Day for Rentokil Initial, which was forced, again,
to report a loss from its City Link courier service. This has not reported a
profit since 2007, after the botched integration of the Target business, and
total losses have now easily exceeded £100 million.

It had been hoped that the business would return to the black in the fourth
quarter, but this is not to be. The best estimate is for another £2 million
of red ink, at a time when the parcels industry normally experiences its
busiest quarter, which suggests a £25 million loss for the